China Digital TV Holding Co., Ltd. Announces Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2018
August 09, 2018 at 05:00 pm EDT
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China Digital TV Holding Co., Ltd. announced unaudited consolidated earnings results for the six months ended June 30, 2018. For the six months, the company's total revenues were $1,498,000 compared with $1,945,000 a year ago. Net revenues were $1,487,000 compared with $1,929,000 a year ago. Operating loss from continuing operations was $2,316,000 compared with $2,697,000 a year ago. Interest income was $15,000 compared with $1,118,000 a year ago. Loss from continuing operations before income tax expenses was $2,113,000 against $859,000 a year ago. Net loss from continuing operations was $2,254,000 or $0.026 per basic and diluted share against $1,055,000 or $0.005 per basic and diluted share a year ago. Net loss attributable to ordinary shareholders of the company was $1,635,000 or $0.026 per basic and diluted share compared with $720,000 or $0.011 per basic and diluted share a year ago. Non-GAAP net loss attributable to shareholders of the company was $1,565,000 compared with $107,000 a year ago. The decrease in net Revenue was primarily attributable to the decreased product revenues during the first half of 2018. The decrease in net loss attributable to the company was primarily due to a combination of decreased interest income and other income.
China Digital TV Holding Co Ltd is a holding company mainly engaged in the provision of cloud platforms. Its cloud platforms provide cloud computing technology-based digital video delivery solutions to television and telecommunication network operators. The Company provides cloud gaming, cloud education, cloud virtual reality (VR), operational strategies and customer service systems through its cloud platforms. The Company is also engaged in the provision of products and services related to the VR technology, and technical support and services. The Company mainly conducts its businesses in the domestic market.